National Pension Service Has $1.43 Billion Holdings in Broadcom Inc. (NASDAQ:AVGO)

National Pension Service increased its position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 1,045.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,273,157 shares of the semiconductor manufacturer's stock after purchasing an additional 7,550,878 shares during the quarter. Broadcom accounts for approximately 1.4% of National Pension Service's investment portfolio, making the stock its 10th largest position. National Pension Service owned 0.18% of Broadcom worth $1,427,120,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Lutz Financial Services LLC boosted its holdings in shares of Broadcom by 867.1% in the 3rd quarter. Lutz Financial Services LLC now owns 1,354 shares of the semiconductor manufacturer's stock valued at $234,000 after purchasing an additional 1,214 shares in the last quarter. Silicon Valley Capital Partners boosted its stake in Broadcom by 7,987.0% in the third quarter. Silicon Valley Capital Partners now owns 62,351 shares of the semiconductor manufacturer's stock valued at $10,755,000 after buying an additional 61,580 shares in the last quarter. Cohen Capital Management Inc. boosted its stake in Broadcom by 1,860.3% in the third quarter. Cohen Capital Management Inc. now owns 2,470 shares of the semiconductor manufacturer's stock valued at $426,000 after buying an additional 2,344 shares in the last quarter. WFA Asset Management Corp grew its holdings in shares of Broadcom by 900.0% during the 3rd quarter. WFA Asset Management Corp now owns 2,120 shares of the semiconductor manufacturer's stock valued at $366,000 after purchasing an additional 1,908 shares during the last quarter. Finally, Wetzel Investment Advisors Inc. boosted its position in Broadcom by 984.8% in the third quarter. Wetzel Investment Advisors Inc. now owns 4,057 shares of the semiconductor manufacturer's stock valued at $700,000 after buying an additional 3,683 shares in the last quarter. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Broadcom Stock Performance

Shares of AVGO stock traded up $4.33 on Thursday, hitting $183.88. 13,179,859 shares of the stock were exchanged, compared to its average volume of 29,831,672. The firm's 50 day moving average is $169.80 and its two-hundred day moving average is $156.94. Broadcom Inc. has a one year low of $89.90 and a one year high of $186.42. The firm has a market capitalization of $858.83 billion, a PE ratio of 159.90, a P/E/G ratio of 1.99 and a beta of 1.17. The company has a current ratio of 1.04, a quick ratio of 0.94 and a debt-to-equity ratio of 1.02.

Broadcom (NASDAQ:AVGO - Get Free Report) last posted its earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share for the quarter, topping the consensus estimate of $1.20 by $0.04. The firm had revenue of $13.07 billion during the quarter, compared to the consensus estimate of $12.98 billion. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. The company's revenue was up 47.3% on a year-over-year basis. During the same quarter last year, the company earned $0.95 earnings per share. Sell-side analysts expect that Broadcom Inc. will post 3.78 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Thursday, September 19th were given a dividend of $0.53 per share. The ex-dividend date was Thursday, September 19th. This represents a $2.12 annualized dividend and a dividend yield of 1.15%. This is an increase from Broadcom's previous quarterly dividend of $0.53. Broadcom's dividend payout ratio is currently 184.35%.

Wall Street Analyst Weigh In

Several equities analysts have commented on AVGO shares. Cantor Fitzgerald increased their target price on Broadcom from $200.00 to $225.00 and gave the company an "overweight" rating in a research report on Tuesday, October 8th. William Blair began coverage on shares of Broadcom in a report on Wednesday, September 18th. They issued an "outperform" rating for the company. Rosenblatt Securities decreased their price target on shares of Broadcom from $2,400.00 to $240.00 and set a "buy" rating for the company in a research report on Friday, September 6th. Morgan Stanley lifted their price target on shares of Broadcom from $176.00 to $180.00 and gave the stock an "overweight" rating in a report on Friday, September 6th. Finally, UBS Group boosted their price target on Broadcom from $170.00 to $200.00 and gave the company a "buy" rating in a research note on Monday. Two equities research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Broadcom has an average rating of "Moderate Buy" and an average target price of $192.79.

Insider Activity

In other Broadcom news, CEO Hock E. Tan sold 50,000 shares of the firm's stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $163.37, for a total value of $8,168,500.00. Following the completion of the transaction, the chief executive officer now owns 1,331,910 shares in the company, valued at $217,594,136.70. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Hock E. Tan sold 50,000 shares of Broadcom stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $163.37, for a total transaction of $8,168,500.00. Following the completion of the sale, the chief executive officer now owns 1,331,910 shares of the company's stock, valued at approximately $217,594,136.70. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Gayla J. Delly sold 750 shares of the firm's stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $174.53, for a total value of $130,897.50. Following the completion of the sale, the director now directly owns 34,750 shares in the company, valued at approximately $6,064,917.50. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 311,080 shares of company stock worth $53,540,590. 2.00% of the stock is owned by corporate insiders.

About Broadcom

Broadcom Inc designs, develops, and supplies various semiconductor devices with a focus on complex digital and mixed signal complementary metal oxide semiconductor based devices and analog III-V based products worldwide. The company operates in two segments, Semiconductor Solutions and Infrastructure Software.